Stop out above highs. Topping reversal pattern in play.
We go long on a pullback. For now short! Dollar gaining strength
Short H&S pattern small flag below trend line forming building pressure. Good Risk Reward
GBPUSD must hold this flag and break higher. If it doesn't we could see a big drop. If it breaks higher as I expect we could easily see 1.34 1.35 area in the months ahead. For now long.
Last time VIX was so low it was 2007. Not I am not suggesting 2007 will happen again. But economically speaking despite the Stock market being at all time highs is not good. We have small deficits less then -3.5% and bank credit and loans falling as well. Lack of fear in the market = Complacency which leads to panic selling. I urge YELLOW CAUTION!
Excellent risk reward! though it does not seem to be right now. Which is the point.
Simple pattern that ends up lower. I am already short adding to the short.
Breaking down after a previous wave C weak breakout and breaking a wedge pattern to the down side. This air has not been kind to me in the past so....... :)
good risk reward, Stop below recent lows. Quick trade.